Recap: Aerovate Therapeutics Q4 Earnings
Portfolio Pulse from Benzinga Insights
Aerovate Therapeutics (NASDAQ:AVTE) reported Q4 earnings with an EPS of $-0.74, missing estimates by -4.0%. Revenue remained unchanged from the previous year. Despite missing EPS estimates last quarter followed by a 15% share price increase, this quarter's performance may impact investor sentiment.
March 25, 2024 | 9:20 pm
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NEUTRAL IMPACT
Aerovate Therapeutics reported a Q4 EPS of $-0.74, missing estimates by 4%. Revenue was unchanged from the previous year. Last quarter's miss was followed by a 15% stock increase.
Although AVTE missed EPS estimates by 4%, historical performance shows that a miss in earnings does not necessarily lead to a negative stock price movement, as evidenced by the 15% increase after last quarter's miss. However, the unchanged revenue could concern investors looking for growth, making the short-term impact neutral as the market digests these mixed signals.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100